Amicus Therapeutics (NASDAQ:FOLD) Raised to “Buy” at StockNews.com

by · The Markets Daily

StockNews.com upgraded shares of Amicus Therapeutics (NASDAQ:FOLD – Free Report) from a hold rating to a buy rating in a research report report published on Monday morning.

Several other research firms have also weighed in on FOLD. Jefferies Financial Group assumed coverage on shares of Amicus Therapeutics in a research note on Friday, September 6th. They set a buy rating and a $18.00 target price for the company. Cantor Fitzgerald reaffirmed an overweight rating and set a $20.00 price objective on shares of Amicus Therapeutics in a research report on Friday, September 20th. JPMorgan Chase & Co. dropped their price objective on shares of Amicus Therapeutics from $17.00 to $16.00 and set an overweight rating on the stock in a research note on Friday, August 16th. Finally, Needham & Company LLC restated a hold rating on shares of Amicus Therapeutics in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $17.00.

View Our Latest Stock Analysis on FOLD

Amicus Therapeutics Stock Performance

Shares of FOLD stock opened at $10.05 on Monday. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of -20.51 and a beta of 0.69. Amicus Therapeutics has a one year low of $9.02 and a one year high of $14.57. The company’s 50-day simple moving average is $11.10 and its 200-day simple moving average is $10.60. The company has a debt-to-equity ratio of 2.93, a quick ratio of 2.26 and a current ratio of 2.75.

Amicus Therapeutics (NASDAQ:FOLD – Get Free Report) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). Amicus Therapeutics had a negative return on equity of 41.47% and a negative net margin of 26.23%. The company had revenue of $126.67 million for the quarter, compared to the consensus estimate of $121.21 million. During the same quarter last year, the business posted ($0.15) EPS. Amicus Therapeutics’s quarterly revenue was up 34.0% compared to the same quarter last year. Equities analysts anticipate that Amicus Therapeutics will post -0.08 earnings per share for the current fiscal year.

Insider Activity at Amicus Therapeutics

In other news, CEO Bradley L. Campbell sold 7,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $10.60, for a total transaction of $79,500.00. Following the transaction, the chief executive officer now directly owns 886,654 shares of the company’s stock, valued at approximately $9,398,532.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 22,500 shares of company stock worth $244,875 in the last three months. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Amicus Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FOLD. Headlands Technologies LLC acquired a new stake in shares of Amicus Therapeutics during the 2nd quarter valued at $89,000. Sage Capital Advisors llc acquired a new stake in shares of Amicus Therapeutics during the 2nd quarter valued at about $103,000. Old Well Partners LLC bought a new stake in shares of Amicus Therapeutics in the 4th quarter valued at approximately $180,000. EntryPoint Capital LLC increased its holdings in Amicus Therapeutics by 278.8% in the first quarter. EntryPoint Capital LLC now owns 13,218 shares of the biopharmaceutical company’s stock worth $156,000 after buying an additional 9,729 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in Amicus Therapeutics during the second quarter valued at approximately $138,000.

About Amicus Therapeutics

(Get Free Report)

Amicus Therapeutics, Inc, a biotechnology company, focuses on discovering, developing, and delivering medicines for rare diseases. Its commercial product and product candidates include Galafold, an oral precision medicine for the treatment of adults with a confirmed diagnosis of Fabry disease and an amenable galactosidase alpha gene variant; and Pombiliti + Opfolda, for the treatment of late onset.

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